David Lerner Associates: Take Your
Retirement for a Test Drive
Meritus Media December 01, 2013
Before buying a new car, you probably take it out for a test drive to
see how it feels and to make sure that everything is working
properly. Have you ever thought of taking a similar â€œtest driveâ€•
when it comes to your retirement?
(Newswire.net -- December 1, 2013) Syosset, New York -- Before
buying a new car, you probably take it out for a test drive to see how it
feels and make sure that everything is working properly. Have you ever
thought of taking a similar “test drive” when it comes to your retirement?

Many people suddenly go from working full-time to retirement, with little
or no buffer in between. “The transition can be abrupt, and some people
have a hard time adjusting to full-time retirement,” says David Lerner
Associates Branch Manager Anthony F. Meere. “One way to ease the transition, as well as see
how realistic your retirement plans really are, is to take your retirement for a test drive.”

Or in other words, try out some of your retirement assumptions ahead of time, before you actually
enter retirement. Here are four steps to consider as you test drive your retirement:

1. Try to live on your retirement budget.

Many people anticipate that they will be able to live on less money after they retire. This is due to
the fact that they will no longer have any expenses associated with working (like commuting,
professional clothing for work, eating out everyday for lunch, etc.) and that their children will
probably be out of the house and perhaps graduated from college.

“Go ahead and put your retirement budget in place a few years before your actual retirement,”
Meere recommends. “This way, you can see how realistic the budget is and make any necessary
adjustments before you actually enter retirement.” These adjustments might include working a little
longer before you retire, if necessary, in order to build up your retirement nest egg a little more.

2. Simplify Your Lifestyle.

Downsizing is a part of most people's retirement plans. This applies not just to their home, but to
their entire lifestyle — cars, entertainment, etc. Doing so will help reduce living expenses and
simplify life in general.

While it might not be practical to move into a smaller temporary home before you retire, you can
start cleaning out the clutter in your existing home to get you ready for your eventual move. You
can also start adjusting to a more downsized mindset — living on a smaller scale overall.

3. Dip your toe into extracurricular activities.

Some people enter retirement with very little idea of how they’re going to spend their free time.
Maybe they spent their entire working lives looking forward to the time when they would no longer
have to work — but when this time comes, they quickly become bored and restless.

“Give some seroius thought to the kinds of activities you’d like to participate in after you retire, and
then try them out,” says Meere. “Some activities sound better in theory than they turn out to be in
reality. For example, lots of men say they want to play golf every day, but after a few months, they
are bored and looking for something else to do.”

4. Get to know your new geography.

If you think you want to relocate when you retire, spend as much time as you can in your new
location before retirement. This will give you a better feel for the area and confirm whether you
truly want to make the move or not.

For example, some people in the north say they want to retire in Florida, but haven’t actually spent
much time there. After spending a couple of months in the Sunshine State, some people decide
they don’t really care for the heat and humidity and would rather find a more temperate climate.

About David Lerner Associates

Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in
Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton,
NJ; and White Plains, NY. For more information contact David Lerner Associates 1 877 367 5960
http://www.davidlerner.com

Material contained in this article is provided for information purposes only and is not intended to be
used in connection with the evaluation of any investments offered by David Lerner Associates, Inc.
This material does not constitute an offer or recommendation to buy or sell securities and should
not be considered in connection with the purchase or sale of securities. Member FINRA & SIPC

David Lerner Associates: Take Your Retirement for a Test Drive

Before buying a new car, you probably take it out for a test drive to see how it feels and to make sure that everything is working properly. Have you ever thought of taking a similar “test drive” when it comes to your retirement?